Saskatoon home values appreciate well above the national average: Remax

Saskatoon home values have increased by 163 percent since the turn of the current century, claiming one of the highest levels of price growth in Canada, according to a report released today by Remax. Only Regina and Edmonton saw greater appreciation over the same period of time as prices climbed 175 percent and 165 percent, respectively. Canadian home values increased 106 percent during that time.

Read the report titled, “Housing Evolution” here.

I’m always happy to answer your Saskatoon real estate questions.  All of my contact info is here. Please feel free to call or email.

Our Saskatoon home search tool offers MLS® listings represented by all real estate brands, presented with more detail than you’ll find anywhere else. Check it out here.

Norm Fisher
Royal LePage Saskatoon Real Estate

Remax forecasts gains in unit sales and home prices for Saskatoon in 2011

Remax released its Housing Market Outlook for 2011 today calling for more balanced and stable real estate markets across Canada. Here’s a short excerpt on what they’re predicting for Saskatoon.

“Given the outlook, in-migration to Saskatoon is set to pick up once again, which will further bolster housing demand. A more diversified local economy will continue to support population growth, as cutting-edge projects like the Canadian Light Source Synchatron attract some of the best and brightest minds from Canada and abroad. Strong growth in new residential construction in 2010, and healthy starts predicted for 2011, will also support a rise in sales. First-time buyers are expected to drive demand for product priced from $250,000 to $350,000, while move-up buyers dominate the over $350,000 threshold. Investors should return to the market in increasing numbers next year, snapping up well-priced condominium and single-family properties, prompted by a vacancy rate that continues to hover near two per cent. Home sales are forecast to climb three per cent to 3,600 units by year-end, while average price posts a five per cent gain to $310,000 by year-end 2011.”

The entire report is available here.

I’m always happy to answer your Saskatoon real estate questions.  All of my contact info is here. Please feel free to call or email.

Our Saskatoon home search tool offers MLS® listings represented by all real estate brands, presented with more detail than you’ll find anywhere else. Check it out here.

Norm Fisher
Royal LePage Saskatoon Real Estate

Saskatoon real estate market on its way to full recovery: Remax

Remax released it’s 2010 Market Trends Report today stating that “healthy levels” of inventory and demand that is gaining momentum are moving the Saskatoon real estate market towards a “full recovery.”

Other tidbits from the Saskatoon section of the report include the following:

  • While sales are still off of last year’s numbers average prices continue to edge up.
  • Balanced conditions characterize the market overall.
  • Rising demand could create a “tightening of supply” in the single-family home inventory.
  • Multiple offers have re-emerged in prime “hot pocket neighbourhoods” but remain the exception.
  • First time buyers account for the “lion’s share” of activity.
  • A “good selection” of condominiums still exists.
  • Buyers remain cautious, as do developers
  • Speculation is virtually “non-existent” in the Saskatoon market.

The report provides market opinions provided by Remax brokers in 16 major Canadian markets including Remax Saskatoon. Read the full report here.

I’m always happy to answer your Saskatoon real estate questions.  All of my contact info is here. Please feel free to call or email.

Real estate geeks can follow our daily updates on Twitter @norm_fisher.

Our Saskatoon home search tool offers MLS listings represented by all real estate brands, presented with more detail than you’ll find anywhere else. Check it out here.

Norm Fisher
Royal LePage Saskatoon Real Estate

Saskatoon housing options still exist for first-timers: Remax

Remax Press Release – Kelowna, BC (April 22, 2008)


“While higher housing values and tight inventory levels have hampered home-buying activity so far this year, longer amortization periods and alternative housing types have offset the impact on most major markets across the country, according to a report released today by RE/MAX.”


“Despite a higher degree of frustration in the marketplace than in previous years, the RE/MAX Affordability Report found that first-time buyers, in particular, remain steadfast in their determination to purchase a home. In fact, entry-level purchasers are adjusting their expectations by sacrificing size, location, and even long-term financial freedom, to overcome challenges such as rising prices and serious supply issues. Innovative financing has become key to homeownership in today’s environment – with longer amortization periods gaining favour in 62 per cent of the major centres surveyed. Low or no down payments were popular with first-time buyers in 38 per cent of markets.”


In Saskatoon, the report indicates “A two-bedroom, 900 square foot bungalow in good condition can be purchased from $200,000 in areas such as Confederation Park, Fairhaven, Meadowgreen, Mayfair and Westmount. The least expensive home sold in the city to date was a 535 square foot bungalow which traded hands for $80,000.”


Remax Saskatoon agent, Ivan Toledo told Star Phoenix Business Editor Murray Lyons that “people looking for affordability are discovering neighbourhoods such as King George and Westmount, where some existing houses are for sale and Toledo is working with two different builders on in-fill projects, building semi-detached, two-storey houses.”


“They will buy a little drug house or whatever on a 50-foot lot, knock it down, subdivide it and put up new construction,” Toledo said. “We have the lowest cost new construction in Saskatoon.

“It’s basically a Stonebridge (style) house and if Stonebridge is selling for $360,000, we’re selling ours at $270,000.”


Read to Remax Affordabilty Study 2008 here.

Read the Star Phoenix story here.

I’m always happy to answer your Saskatoon real estate questions.  All of my contact info is here. Please feel free to call or email.

Follow our daily updates on Twitter @SaskatoonHomes.

Norm Fisher
Royal LePage Saskatoon Real Estate

Average selling price of a Canadian home up 264% over 25 years

Average selling price of a home in Canada up 264%

The average selling price of a Canadian home has appreciated 264 percent over the last 25 years, according to a new study.


That amounts to an annual increase of 5.3 percent, not bad given the fact that a home is an “investment” which brings the added benefit of shelter to owners. Of course, value gains on principle residences in Canada are tax exempt making a home that much more attractive as an investment.


The study, just released by Remax Real Estate examined increases in the average selling price of a home in 17 housing markets across Canada, including Saskatoon.


Lately it seems that everyone is talking about the heat of the Saskatoon real estate market so you may be surprised to see that Saskatoon showed the second smallest increase (148%) of all of the markets surveyed. This doesn’t strike me as a huge surprise. Over the long-term, Saskatoon has pretty much always shown slower growth than most other Canadian markets. Typically, we’re accustomed to gains in the range of 3 to 4 percent but that trend has started to change in recent years. In 2005, prices increased 9 percent. In 2006, the average price of a Saskatoon home rose 11%. As I’ve mentioned in previous posts, our current levels of low inventory and high demand could, and probably will bring increases which exceed those in 2007.


So what’s changing in this area? First of all, our whole provincial economy looks entirely different than it did 10 years ago when Saskatchewan was largely dependent on agriculture.


Today, we are quickly becoming a leader in natural resources with heavier production in oil and uranium. Some believe that diamonds will be the next big thing for Saskatchewan if Shore Gold continues to pull stones like they have been lately. Science has also played a pretty significant role in the Saskatchewan economy over the past five years. 15 years ago, our children had to leave Saskatchewan to find work. Today, a multitude of jobs and affordable housing is luring them back home.


My money says that we’ll see Saskatoon playing catch up with the rest of the country over the next few years.

See a Google map displaying the boundaries of Saskatoon real estate “areas” here
Data collection and calculation for our statistical reports

I’m always happy to answer your Saskatoon real estate questions.  All of my contact info is here. Please feel free to call or email.

Follow our daily updates on Twitter @SaskatoonHomes.

Norm Fisher
Royal LePage Saskatoon Real Estate